Cable Hill Partners LLC Makes New $227,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Cable Hill Partners LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, Holdings Channel reports. The firm purchased 763 shares of the construction company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Electron Capital Partners LLC grew its position in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the period. Swedbank AB purchased a new stake in shares of Quanta Services during the 1st quarter worth approximately $227,218,000. Capital World Investors raised its holdings in shares of Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the period. American Century Companies Inc. lifted its stake in Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of a number of analyst reports. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. UBS Group boosted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $323.87 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $335.00. The firm has a market capitalization of $47.81 billion, a price-to-earnings ratio of 59.75 and a beta of 1.01. The firm has a 50 day moving average of $300.29 and a 200 day moving average of $277.12.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm earned $2.08 EPS. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s payout ratio is currently 6.64%.

Insider Activity

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 68.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.